> For the complete documentation index, see [llms.txt](https://www.mica.wtf/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.mica.wtf/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-4/article-42.md). # Article 42 | | | | --------------- | ------------------------------------------------------------------------------- | | **Instrument** | Regulation (EU) 2023/1114 (MiCA) | | **Source** | [EUR-Lex](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32023R1114) | | **Status** | In force | | **Review rule** | Legal-text changes require human review | ## Content of the assessment of proposed acquisitions of issuers of asset-referenced tokens 1. When performing the assessment referred to in [Article 41](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-4/article-41.md)(4), the [competent authority](https://www.mica.wtf/definitions/definitions/mica/competent-authority) shall appraise the suitability of the proposed acquirer and the financial soundness of the proposed acquisition referred to in [Article 41](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-4/article-41.md)(1) against all of the following criteria: 1. the reputation of the proposed acquirer; 2. the reputation, knowledge, skills and experience of any person who will direct the business of the [issuer](https://www.mica.wtf/definitions/definitions/mica/issuer) of the [asset-referenced token](https://www.mica.wtf/definitions/definitions/mica/asset-referenced-token) as a result of the proposed acquisition; 3. the financial soundness of the proposed acquirer, in particular in relation to the type of business envisaged and pursued in respect of the [issuer](https://www.mica.wtf/definitions/definitions/mica/issuer) of the [asset-referenced token](https://www.mica.wtf/definitions/definitions/mica/asset-referenced-token) in which the acquisition is proposed; 4. whether the issuer of the asset-referenced token will be able to comply and continue to comply with the provisions of this Title; 5. whether there are reasonable grounds to suspect that, in connection with the proposed acquisition, money laundering or terrorist financing within the meaning of, respectively, Article 1(3) and (5) of Directive (EU) 2015/849 is being or has been committed or attempted, or that the proposed acquisition could increase the risk thereof. 2. The [competent authority](https://www.mica.wtf/definitions/definitions/mica/competent-authority) may oppose the proposed acquisition only where there are reasonable grounds for doing so based on the criteria set out in paragraph 1 of this Article or where the information provided in accordance with [Article 41](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-4/article-41.md)(4) is incomplete or false. 3. Member States shall not impose any prior conditions in respect of the level of [qualifying holding](https://www.mica.wtf/definitions/definitions/mica/qualifying-holding) that is required to be acquired under this Regulation nor allow their competent authorities to examine the proposed acquisition in terms of the economic needs of the market. 4. EBA, in close cooperation with ESMA, shall develop draft regulatory technical standards specifying the detailed content of the information that is necessary to carry out the assessment referred to in [Article 41](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-4/article-41.md)(4), first subparagraph. The information required shall be relevant for a prudential assessment, proportionate and adapted to the nature of the proposed acquirer and the proposed acquisition referred to in [Article 41](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-4/article-41.md)(1). EBA shall submit the draft regulatory technical standards referred to in the first subparagraph to the Commission by 30 June 2024. Power is delegated to the Commission to supplement this Regulation by adopting the regulatory technical standards referred to in the first subparagraph of this paragraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010. *** #### Level 2 instruments * [EBA/GL/2024/09 — Qualifying Holder Suitability](/eu-level/guidelines/guidelines-on-the-suitability-assessment-of-shareholders-and-members-with-qualifying-holdings.md) — Guidelines --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://www.mica.wtf/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-4/article-42.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.